The internal control procedures in Payton Company make the following provisions. Identify the principles of internal control

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The internal control procedures in Payton Company make the following provisions. Identify the principles of internal control that are being followed in each case.

(a) Employees who have physical custody of assets do not have access to the accounting records.

(b) Each month the assets on hand are compared to the accounting records by an internal auditor.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 21, 2012 02:59 AM

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The internal control procedures in Payton Company make the following provisions. Identify the principles of internal control

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